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Bank sells seized M/Y Natita

M/Y Natita, the 217-foot (66m) Oceanco seized by U.S. investment bank Goldman Sachs for unpaid debt, has been sold, according to the Wall Street Journal. The buyer, who is unidentified but reportedly lives in Malta, paid $27.5 million for the boat, the Journal reported.

Goldman Sachs seized the yacht in August at Rybovich shipyard in South Florida, where it was docked at the time. Its owner, American oil tycoon William Kallop, owed the bank $28 million, according to court records. The bank additionally incurred maintenance and fuel costs of $438,000 while it had custody of the yacht, according to the Journal.

The yacht, built in the Netherlands in 2005, was originally owned by Russian billionaire Alisher Usmanov, who sold it to Kallop for $59.9 million in 2010.